KUALA LUMPUR (April 22): Technical rubber compound provider GIIB Holdings Bhd said it has written to its suspended executive director Wong Weng Yew to seek further clarification over his claim that the company had taken action against him after he had raised questions over suspicious transactions.
The move comes after the company was made aware of an article by The Edge dated April 19 entitled "Suspended director claims GIIB took actions against him after he questioned suspicious transactions" on the allegations made by Wong.
“Prior to the article, the board [had] not received any report on suspicious transactions from Wong.
“On receipt of the details, the process for investigation by an independent third party will be conducted, if required,” GIIB said in a bourse filing.
In a media statement issued on Tuesday (April 19), Wong claimed he had been treated with hostility and contempt by the company's management ever since he brought the transactional issues to light, and claimed that this treatment "can only be to silence my questions with regard to the suspicious transactions and to defame me in the eyes of the public", and that he reserves all his rights in the matter.
Earlier on Friday (April 22), GIIB said it had engaged independent consulting firm PKF Covenant Sdn Bhd to assist GIIB's investigative committee in the probe into Wong's management and handling of the group's glove business and accounts.
According to GIIB's annual report, Wong, 38, was appointed as the company's executive director on Feb 23, 2021, and that he was responsible for managing its finance and accounting operations.
GIIB (formerly known as Goodway Integrated Industries Bhd) announced Wong's suspension to Bursa on April 11, 2022, to facilitate the said probe.
According to its filing then, Wong had been suspended from his employment with the company since March 28, 2022 and the suspension was extended until next Monday (April 25, 2022) pending the evaluation of his reply to the show-cause letter issued by GIIB to him.
GIIB shares finished unchanged at eight sen, giving it a market capitalisation of RM47.59 million.